Banco Bolivariano C.A.
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Acuna Cubillos, Piedad Lucia
USD $ 40,000,000
USD $ 40,000,000
Project scope and objective
The Project consists of supporting Banco Bolivariano C.A. to issue the first Blue Bond in Ecuador. The total amount of the Bond is up to US$50 million with a five-year term. IDB Invest will act as an anchor investor with a subscription for a total amount of up to US$40 million. Another potential investor will participate with a subscription for a total amount of up to US$10 million. The Bond proceeds will be used to promote and further extend financing projects and opportunities for sustainable, water‑related ocean business that address the challenges of the blue economy, create sustainable business opportunities in the oceans and manage oceans responsibly.
Additionally, IDB Invest will provide advisory services with the objective of supporting the bank in the process of the Blue Bond's structure. This involves defining the use of eligible funds, the development of the Bond´s conceptual framework, as well as the environmental and/or social benefit of the financed projects. In addition, Banco Bolivariano will also be supported in the certification of the Blue Bond through the contracting of an external provider of Second Party Opinions (“SPO”), who will be in charge of issuing the SPO.
For inquiries, comments and information requests about the projectRequest information
Alternatively, you may also use the following contact information:
Gerente de Tesorería y Relaciones Internacionales
+593 4 2560705
IDB Invest Contact
1350 New York Ave NW, Washington, DC 20005